Kansas City Fed Services Survey: Hours worked: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Kansas City Fed - Monthly
This series is part of the dataset: Kansas City Fed Services Survey
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about services firms in the Tenth Federal Reserve District, the seasonally adjusted diffusion index for hours worked (share of CEOs seeing a future increase minus share forecasting a decrease) was -2.0 in September 2026, compared to -4.0 in August 2026.
Sample. This monthly series has a total of 153 observations. The time span covered by the series is from January 2014 to September 2026.
History. Here's a glimpse of some statistics computed on the full sample: the diffusion index averaged 10.5; it reached a trough of -29.0 in April 2020; it hit a peak of 30.0 in June 2021.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-07-31 | 10.0000 |
| 2026-08-31 | -4.00000 |
| 2026-09-30 | -2.00000 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will employee hours worked increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading indicator of the business cycle |
| Seasonally adjusted | Yes |
| Deflation method | Not applicable |
| Rescaling | None |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Kansas City |
| Source type | Central bank |
| Data licence | Reproduction allowed subject to conditions |
| Other information | FS correspondence: Hours worked |
| FSR temporal aggregation code | LM01 |
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